Jaguar Health, Inc. reported its financial results for the third quarter of 2025, revealing a net loss of $30.8 million, a slight increase from the $29.0 million loss recorded in the same period last year. The company's total revenue for the nine months ended September 30, 2025, was $8.3 million, reflecting a 1.2% increase from $8.2 million in the prior year. Product revenue, primarily from the sale of Mytesi, remained stable at $8.1 million, while license revenue increased significantly to $128,000, up from $85,000 in the previous year, attributed to a new licensing agreement with Gen Ilac Ve Saglik Urunleri Sanayi Ve Ticaret, A.S.
Operating expenses for the nine months ended September 30, 2025, totaled $32.9 million, a 6.8% increase compared to $30.9 million in the same period of 2024. The rise in expenses was driven by increased sales and marketing costs, which surged by nearly 40% to $7.0 million, reflecting the company's investment in the launch of Gelclair, a new oral mucositis product. Research and development expenses decreased by 11.3% to $10.7 million, primarily due to the conclusion of the Phase 3 OnTarget clinical trial for crofelemer.
In terms of operational metrics, Jaguar Health's cash position as of September 30, 2025, was $3.5 million, down from $8.0 million at the end of 2024. The company has been actively managing its liquidity, recognizing that its current cash reserves may not be sufficient to fund operations for the next year. The company has funded its operations primarily through equity and debt financing, with cash provided by financing activities amounting to $13.9 million in the first nine months of 2025, a decrease from $28.4 million in the same period of 2024.
Strategically, Jaguar Health has made significant moves, including the launch of Gelclair in October 2024 and the establishment of a joint venture, Magdalena Biosciences, focused on developing plant-based medicines for mental health conditions. The company is also pursuing orphan drug designation for crofelemer in treating chemotherapy-induced diarrhea in breast cancer patients, following promising results from the OnTarget study. Looking ahead, Jaguar Health anticipates continued investment in product development and commercialization efforts, while also seeking additional financing to support its operations and growth initiatives.
About Jaguar Health, Inc.
Jaguar Health, Inc. develops plant-derived prescription medicines targeting gastrointestinal disorders in humans and animals. Its core products include crofelemer-based drugs like Mytesi for HIV-related diarrhea and Canalevia for canine diarrhea. The company focuses on unmet medical needs such as cancer therapy-related diarrhea, rare diseases, and supportive care, leveraging sustainable botanical sources and proprietary formulations to provide first-in-class, natural treatment options globally.
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